Federal Direct Parent Loans For Undergraduate Students
Parent Loans are a very easy and affordable way for parents to borrow up to the total cost of college for their child. Phoenix Student Loans Providers are not a need-based loan, so just about everyone qualifies for a Parent Loan. Parent Loans are available for multiple students each year. Borrow up to 100% of college costs, less any financial aid awarded to a student.
No collateral required
Interest paid may be tax-deductible
Eligible for Federal PLUS Loan Consolidation
Deferments are availableEligibility for Parent Loans
Parent Loans allow parents to receive federally guaranteed loans at low-interest rates to help pay for their child’s education. Since July 1st, 2006 all Phoenix Student Loans that are disbursed after July 1st, 2006 will have a low fixed interest rate of 8.50%, any Parent Loans disbursed prior to that date will remain variable.
Parent Loans have a low fixed rate of 8.50%. For any Parent Loans disbursed before July 1st, 2006 check to see how Federal Parent Loan Consolidation can lock in the rate on any existing Parent Loans for the life of the loan.
The interest rate on Paying Back Student Loans Phoenix are capped at 9.00% for the borrower for the life of the loan, so when the interest rates rise above 9%, the government will pay the additional interest to the lender.
Parent Loans currently have a 3.00% government origination fee and a 1.00% guarantee fee. Fees are taken out of the proceeds of the loan, so there is no out-of-pocket cost to the parent for the Parent Loan.